Norris Bruce
Apr 04, 2019

What Are The Pros and Cons?

Today’s News Synopsis:

Buying a property with past-due property tax bills?  Mortgage rates remained steady with 30-year rates now at 4.08% and 15-year rates at 3.56%.  Millennials are trading nice kitchen features for pizza and wine.

In The News:

Freddie Mac – “Mortgage Rates Remain Stable” (4-4-2019)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates held steady after seeing major drops last week.”

Zillow “Homes with Chef-Inspired Kitchen Features Sell for Up to 34 Percent More; Yet Millennial Buyers Pay Premiums for Pizza and Wine” (4-4-2019)

“A home’s listed features can have a significant impact on how much it sells for and how quickly it sells. Zillow’s 2019 Home Features that Sell Analysis found that for-sale listings mentioning ‘steam oven’ or ‘professional appliance’ sold for up to 34 percent more than expected.”

Mortgage Bankers Association – “Mortgage Credit Availability Increased in March” (4-4-2019)

“Mortgage credit availability increased in March according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool.”

Realtor.com “What Is a Trash Corral?  A Gorgeous Way to Hide Your Garbage” (4-4-2019)

“Few things can destroy a home’s curb appeal more than sticky-looking, beaten-up trash cans littering your driveway or front yard.”

Wall Street Journal “New Real-Estate Tax Hits Industry, $2 Million Homes” (4-4-2019)

“Wealthy homeowners won’t be the only ones to feel the pinch of New York City’s new real-estate tax law. Many of the city’s biggest property developers will be hit, too.”

Forbes “‘Now Is The Time to Refinance’: Low Mortgage Rates Cause Surge In Refinancing” (4-4-2019)

“Last week’s massive dip in mortgage rates apparently pushed homeowners into action.  According to new data from the Mortgage Bankers Association, refinancing was up 39% last week, hitting its highest point since January 2016.”

Mansion Global “San Francisco Median House Price Falls 4% in First Quarter of 2019” (4-4-2019)

“San Francisco’s median house price was $1.545 million in the first quarter of 2019, a 4% decline from a year ago, according to a quarterly report on Thursday from Compass.”

Forbes “The Pros Ans Cons Of Buying Properties With Past-Due Property Tax Bills” (4-4-2019)

“Tax-delinquent properties can be both scary and very attractive to real estate investors.  They can be risky if you aren’t aware of the full situation, but they may also be undervalued deals with lots of potential.”

 

California Real Estate Investor Events

Bruce Norris will be presenting his latest Real Estate Market Update with Tri-Counties Association of Realtors on Thursday, April 11.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn at the AOA Million Dollar Trade Show on Wednesday, April 17.

Aaron Norris will be presenting Innovating Real Estate Marketing with the Moreno Valley Professionals on Thursday, April 18.

Bruce Norris will be presenting 10 Decisions To Make Before The Next Downturn with Pasadena FIBI on Thursday, April 18.

 

Looking Back:

How much income did you need to earn in order to buy a home?  241,000 workers were added to companies the previous month according to the latest data from the ADP Research Institute.  Zillow reported homes that sold for 30% more than what you may have expected were those that contained heated floors, steam showers, and outdoor kitchens.

 

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Phone: (951) 780-5856

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Riverside, CA 92507

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Phone: (951) 780-5856

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